We live in interesting times. Each day, we cannot be sure which way the stock market will swing, with its volatile nature and seemingly knee-jerk reactions to the trade and policy headline of the day. If the stock market serves as a leading indicator of times to come, the economy in 2019 is likely to slow in comparison to the one to which we’ve become accustomed. Despite this trajectory, other factors still signal that the hotel industry isn’t likely falling off a cliff anytime soon.

Owning and operating a hotel always has some degree of risk. However, for hotels located in ski-resort regions, this risk continues to be amplified. Risk factors include continued growth of the online home-sharing industry (Airbnb, VRBO, etc.) introducing new supply from non-hotel assets, as well as the seasonal nature of these mountain communities. Another factor that can greatly affect the performance of a ski resort-dependent hotel is weather. .

HVS’s expertise expands well beyond just basic hotels. From golf courses to ski resorts and everything in between, we have the skills and knowledge to help you with any of your hospitality projects. A recently added specialty at HVS includes vineyard/winery-related market studies, consulting, and appraisals.

HVS and STR are pleased to provide you with the quarterly report of the Canadian Lodging Outlook. Each report includes occupancy (occ), average daily rate (ADR), and revenue per available room (RevPAR) for six major markets. Canada's consistently strong hotel demand growth through Q3 continues to outpace new supply growth by a ratio of 2 to 1!

Baltimore has come a long way over the last 20 years, developing a tourism infrastructure and experience for leisure and convention visitors that is impressive. Baltimore’s economy is bustling, with unemployment low and the city balanced by a multitude of employment segments. Johns Hopkins remains an important cornerstone, while the Mercy Medical Center and University of Maryland Medical Center are important anchors downtown. The financial sector is also strong, particularly downtown, with major installations of accounting firms, investment firms, and commercial lending institutions all present.

Overshadowed by the influx of developments in Downtown Chicago, the suburban Chicago hotel market largely depends on key locations proximate to major transportation infrastructure and anchored demand generators. New supply growth remains minimal, and this trend is anticipated to continue over the next few years, as office vacancies are filled.

Downtown Oklahoma City offers great lodging variety that allows a traveler to pick from the unique to the mainstream. The city has experienced a relatively large influx of new supply in recent years, and performance is holding up as of the date of this article. Our work in both the Airport and Downtown submarkets reflected occupancy remaining steady or declining slightly as of September 2018.

The greater Dallas area continues to be a focal point of corporate relocation and expansion, and a building boom is evident in both the urban core and outlying suburbs, with hotel construction on the rise. Year-to-date data through October 2018 illustrate a stronger increase in average rate, as new, high-quality supply has opened in the market; moreover, the commercial segment remains strong with the existing and growing corporate presence.

HVS, as sole and exclusive advisory firm to Ownership, is pleased to present the opportunity to acquire The 62-key Days Inn & Suites Houston NW-Cypress, a limited-service hotel located in the Houston Northwest submarket. This offering presents an excellent opportunity to acquire a stabilized Days Inn below replacement cost. The Property has a 600-square foot onsite living quarters with a kitchen and separate living/sleeping areas, making this an ideal investment opportunity for an owner/operator. The 62-key configuration includes the living quarters, so if the apartment is occupied, there will be 61 rentable keys at the Property. The interior corridor Property opened in February 2017 and is in excellent physical condition. An insignificant change-of-ownership PIP is expected and based on current pricing guidance. There are approximately 13 years remaining on the current franchise agreement.

HVS, as sole and exclusive advisory firm to Ownership, is pleased to present the opportunity to acquire the 72-room La Quinta Inn & Suites Houston Northwest Beltway 8/West Road, a limited-service hotel located in the rebounding Houston Northwest submarket. Built in 2013, the Property is in excellent physical condition; thus, a minimal change-of-ownership PIP is expected. There are approximately 15 years remaining on the franchise license term. The Property is being offered free-and-clear of any management encumbrances, providing an investor with the flexibility to restructure the Hotel’s operations, yield-management strategies, and cost-containment initiatives to maximize top-line revenues and bottom-line cash flows.

HVS, as sole and exclusive advisory firm to Ownership, is pleased to present the opportunity to acquire the 88-key TownePlace Suites by Marriott Dallas-McKinney, an extended-stay hotel located in the booming North Dallas submarket of McKinney, Texas. The hotel is currently under-performing versus its competitive set because the ownership group has been focused on other development projects. This opportunity would present a more “hands-on” operator the ability to strategically penetrate the competitive set aggressively and operate above current EBITDA margins. Property tour dates have been released for 10/8 and 10/9, please reach out to us to schedule a visit.

Like emerging hospitality markets over the world, Mexico and Central offer complex but rewarding opportunities for hotel and resort development. MexHIC is a forum for interaction between market participants focused on defining market drivers and visualizing a path for sound industry growth. MexHIC also gives stakeholders a chance to hear from industry leaders and representatives of major hotel brands; network with developers, investors, lenders, and government officials; as well as engage the many challenges and opportunities of the Mexican and Central American lodging landscape.

Kingston, Jamaica, has been selected to host the next Caribbean Hotel Investment Conference and Operations Summit (CHICOS) on November 14–15, 2019. Co-sponsors Apple Leisure Group (ALG) and AMResorts will provide the conference venue, Secrets Wild Orchid Montego Bay and Secrets St. James Montego Bay. The event is expected to attract 300 attendees interested in hospitality development in the Caribbean.

We are looking for Analysts to join our Consulting & Valuation division, as well as a Spring or Summer Intern in Washington, D.C. We prefer to hire individuals with at least two years of full-time work history and who can demonstrate flexibility, focus, and self-motivation. Our culture puts our personal health and rest before work in the priority scale, encouraging team members to take care of themselves, while succeeding within our team (we prefer “family”).